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Edited version of your written advice
Authorisation Number: 1012637948646
Ruling
Subject: GST
This ruling considered a number of issues in relation to a supply of land and the development of property.
The Commissioner ruled that:
1. The supply of real property by the rulee was not a supply that is eligible for the margin scheme pursuant to Division 75 of the GST Act.
2. (a) The supply by the rulee under a development agreement was not a supply to which section 156-5 of the GST Act would apply.
2. (b) The Commissioner's Determination as set out in the A New Tax System (Goods and Services Tax) (Particular Attribution Rules Where Total Consideration Not Known) Determination (No 1) 2000 will apply to the supply made by the rulee under a development agreement.
3. There is no additional consideration for the grant of the lease.
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 Division 9,
A New Tax System (Goods and Services Tax) Act 1999 Division 29,
A New Tax System (Goods and Services Tax) Act 1999 Division 75,
A New Tax System (Goods and Services Tax) Act 1999 Division 156 and
A New Tax System (Goods and Services Tax) Act 1999 Section 195-1